The new labels allow employees to change prices as often as every ten seconds.

“If it’s hot outside, we can raise the price of water and ice cream. If there’s something that’s close to the expiration date, we can lower the price — that’s the good news,” said Phil Lempert, a grocery industry analyst.

Apps like Uber already use surge pricing, in which higher demand leads to higher prices in real time. Companies across industries have caused controversy with talk of implementing surge pricing, with fast-food restaurant Wendy’s making headlines most recently. Electronic shelf labels allow the same strategy to be applied at grocery stores, but are not the only reason why retailers may make the switch.

  • foggy@lemmy.world
    681·
    5 months ago

    There are laws in many states governing many items clearly articulating that the price cannot change during business hours/within a business day.

    Hopefully the FTC revs up it’s engines like it’s been doing.

    • Burn_The_Right@lemmy.world
      11·
      5 months ago

      Hopefully the FTC revs up it’s engines like it’s been doing.

      That depends on who is in charge of the country at any given time. Three-letter entities have a way of being hamstrung during conservative administrations.

      The next time conservatives have control, though, it will likely be permanent. The FTC would certainly be dismantled.